As I was typing a long response to this, I realized that there are so many factors that can determine the best course of action that it's almost too silly to debate.
And even the AIM admits this in 6-4-1 when they say, "It is virtually impossible to provide regulations and procedures applicable to all possible situations associated with two-way radio communications failure"
What kind of nav equipment do you avilable to you? What are the weather conditions? Are you on fire? etc., etc.
Fun exercise though!
Dave